BANK OF AMERICA HIRES DOZENS OF LEGAL EMPLOYEES TO MEET FORECLOSURE QUOTA OF 10K PER DAY

Press Release

Occupy Fights Foreclosures and Bank of America by Turning the Tables on them on the Eve of Shareholders’ Meeting

Los Angeles – In an Occupy exclusive, recently interviewed or hired sources say, Bank of America has begun a hiring frenzy in their in-home legal department.  The bank has recently hired dozens of paralegals and notaries with a reported quota of accumulated 10,000 foreclosures per day or 200 per employee.

Activists say the newly hired legal employees are a consequence of families fighting back against fraudulent foreclosures.

“We ask, ‘Why not a quota of 10,000 principle reductions a day?’” questions Suzanne O’Keeffe, an Occupy activist and writer. “Why not a quota of 10,000 permanent loan modifications per day? What is going on? It is because families are starting to fight back against the banks.”

On Tuesday, May 8th, Occupy Fights Foreclosures joins local chapters of the Occupy Movement, MoveOn, Code Pink, interfaith groups, and others, in Pasadena, to turn the tables on Bank of America the night before their Shareholders’ meeting in Charlotte, North Carolina.

Occupy Fights Foreclosures (OFF), an official subcommittee at Occupy Los Angeles, plans to foreclose upon Bank of America with fraudulent documents similar to the ones activists claim the banks use on innocent families.

“Bank of America should have a quota of 10,000 admissions of fraud a day,” states Carlos Marroquin, a homeowners’ advocate and Occupy Activist. “I don't think too many executives are having their doors kicked in and their children dragged out onto the sidewalk.”

The coalition of groups will bring moving trucks and boxes to move their money as Bank of America displaces Americans.

“We rally the American People to close 10,000 Bank of America accounts a day in response to this perverse money grab on the part of the big banks,” states Vlad Popescu, a MoveOn LA Council coordinator helping on this action, “If the banks move families out, then our families are moving our money out of the banks.” 

The OFF activists recently saved Dirma Rodriguez and her family from being displaced by what they call a fraudulent foreclosure by Bank of America. The Los Angeles Times covered the "ugly foreclosure story" to which Bank of America has subjected the Rodriguez' family.

Activists allege that as a result of Bank of America and their subsidiary Countrywide, Mrs Rodriguez has been victimized by about 10 different groups over the course of her predatory loan and questionably legal foreclosure.

Activists aren’t the only ones questioning these foreclosures, so are elected officials.

In Los Angeles, the City Council continues to develop ordinances and resolutions to assist innocent homeowners.

The Los Angeles County Recorder, Dean Logan, states he and his office will assist prosecutors due after a recent audit sanctioned by, Phil Ting, his San Francisco County counterpart. The audit shows that 99% of foreclosures are questionable and 84% have clear violations of law and over 66% have four or more clear violations of law.

Golden State legislators are currently considering a new set of bills entitled “The Homeowners’ Bill of Rights”. In addition, just last week, the “Save our Neighborhoods Act” was introduce to Congress by Representative Hansen Clarke (D-MI) which proposes a 3-year national moratorium on foreclosures and evictions.

“We call for 10,000 phone calls, emails, and faxes a day to Congressional Representatives in support of HR4848,” says Karen Berger, a member of both Occupy LA and MoveOn. “We need a Bill to save our neighborhoods.”

Activists are confident they have significant proof to justify a moratorium on foreclosures and initiate prosecutions of fraud. The banks have already been sued— around the country and world—countless times by shareholders, investors, pension funds managers, local municipalities, customers, government agencies and tax payers.

“Due to immense evidence, we are certain that audits of these pending foreclosures will show Bank of America has no legal standing to foreclose on 10,000 families a day. ” states O’Keeffe from Occupy,  “And families are starting to challenge the banks in court.”

Activists are working on a public education campaign that exposes the rampant system-wide mortgage fraud from origination, securitization, and foreclosures. They are also working on legal strategies to help these families and also legislative strategies to protect families and neighborhoods from further abuse.

MoveOn LA Council held a recent direct actions training as part of a national training effort called “99% Spring Training. A couple members of Occupy Fights Foreclosures attended that training. The two groups have been working together on a common-ground strategy to create this event.

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commented 2013-11-06 18:06:33 -0800 · Flag
TY :)
@PropertyDefense tweeted link to this page. 2012-05-20 13:35:47 -0700
BANK OF AMERICA HIRES DOZENS OF LEGAL EMPLOYEES TO MEET FORECLOSURE QUOTA OF 10K PER DAY http://t.co/U8C7I7Ry
published this page in News 2012-05-08 07:24:52 -0700
Why stay home when you can save a home?
Occupy Fights Foreclosures, affiliated with OccupyLA, stands up against the nationwide foreclosure crisis. We support, educate and empower homeowners at risk to save their homes from fraudulent foreclosure.